UBS analyst Jon Rigby upgraded Exxon Mobil to Neutral and raised his price target for the shares to $76 from $75. The oil giant closed yesterday up 61c to $77.18.
The shares have underperformed both the company’s domestic and international peers in 2017, Rigby tells investors in a research note. He expects oil prices to slowly recover and for “robust” demand to keep downstream margins “healthy.” Rigby notes Exxon shares are close to the lows of the year.
Leave A Comment